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- Title
NECESSARY AND SUFFICIENT CONDITIONS FOR A PARETO OPTIMUM IN CONVEX PROGRAMMING.
- Authors
Ben-Israel, A.; Ben-Tal, A.; Charnes, A.
- Abstract
Necessary and sufficient conditions for Pareto optimality are derived for problems involving convex criteria and convex constraints. For a wide class of convex functions, the characterization of Pareto optimality is given in terms of systems of linear programs, which, under suitable regularization conditions, reduce to a single linear program. The consideration of a system of linear programs and their duals leads naturally to a system of partial prices associated with a Pareto optimum.
- Subjects
WELFARE economics; PARETO optimum; CONVEX functions; ECONOMICS; LINEAR programming; ECONOMIC policy; SOCIAL policy; PRICES; ECONOMETRICS; ECONOMIC models
- Publication
Econometrica, 1977, Vol 45, Issue 4, p811
- ISSN
0012-9682
- Publication type
Article
- DOI
10.2307/1912673